Nexo and Sphere join forces to advance cross-border business payments
Feb 27•3 min read
February 27, 2025 – Nexo, a premier digital assets wealth platform, has announced a strategic partnership with Sphere, a leader in same-day cross-border settlement. The partnership is designed to enhance international business payments by integrating fast, cost-efficient, and regulatory-compliant blockchain-based settlement solutions, particularly benefiting businesses in inflation-pressured regions. The collaboration leverages Sphere’s scalable infrastructure and Nexo’s digital asset expertise to reduce settlement times from days to hours, streamline treasury management, and provide businesses with stable, near-instant currency conversion.
The partnership focuses on:
- Near-instant settlement: Sphere’s scalable infrastructure shortens settlement times from days to hours, helping businesses reduce FX risk and improve liquidity. In regions like Mexico, Brazil, and Argentina, where stablecoin adoption is growing, Sphere supports businesses in managing currency fluctuations, streamlining treasury operations, and reducing reliance on intermediaries. Through Sphere’s API, businesses, fintechs, and financial institutions can access efficient, near-instant currency conversion for cross-border payments.
- Smoother transactions: Nexo’s integration with Sphere enables faster, more cost-effective cross-border payments for corporate users. This collaboration enhances Nexo’s suite of financial services—including personal USD accounts, crypto-backed loans, and interest-earning products.
"At Nexo, we unite traditional and digital assets to build the next generation of wealth, “ said Savina Boncheva, Chief Operating Officer at Nexo. “Collaborating with Sphere furthers that goal by giving clients and businesses a faster, more transparent way to move between global currencies and digital assets, all within a compliant framework.”
“With Latin American economies contending with considerable inflation and currency volatility, our alliance with Nexo stands to be a real game-changer,” said Arnold Lee, CEO of Sphere. By joining forces, we can deliver a secure, streamlined environment for everything from everyday B2B transactions to larger-scale settlements—significantly cutting the time and overhead businesses face.”
Addressing industry challenges
This tie-up combines Sphere’s cutting-edge infrastructure and Nexo’s digital asset expertise to further modernize business payments. Businesses today face an array of pain points when sending money abroad: multiple intermediaries, high fees, and settlement times that stretch from three days to a week.
Stablecoins have emerged as a powerful tool: stablecoins now comprise up to 75% of all on-chain transaction volume. Meanwhile, the total market capitalization of USD-pegged stablecoins surpassed $200 billion for the first time in late January, indicating a high demand for stable and efficient payment rails.
Looking towards scalable cross-border transactions
The companies will collaborate on a phased implementation of the blockchain infrastructure in select markets and gradually expand, bringing to life a shared vision of streamlined global finance that benefits businesses of all sizes.
About Nexo
Nexo is a premier digital assets wealth platform designed to empower clients to grow, manage, and preserve their crypto holdings. Our mission is to lead the next generation of wealth creation by focusing on customer success and delivering tailored solutions that build enduring value, supported by 24/7 client care.
Since 2018, Nexo has provided unmatched opportunities to forward-thinking clients in over 150+ jurisdictions. With over $11 billion in AUM and $320 billion processed, we bring lasting value to millions worldwide. Our all-in-one platform combines advanced technology with a client-first approach, offering high-yield flexible and fixed-term savings, crypto-backed loans, sophisticated trading tools, and liquidity solutions, including the first crypto debit/credit card. Built on deep industry expertise, a sustainable business model, robust infrastructure, stringent security, and global licensing, Nexo champions innovation and long-lasting prosperity.
Official website: nexo.com
About Sphere
Sphere is a technology-driven company dedicated to modernizing cross-border payments. Through an efficient, scalable mix of programmatic bank messaging and regulatory compliance, Sphere helps businesses settle transactions in hours, reducing fees and operational complexity.
Official website: Spherepay.co
Media Contacts
Nexo Communications team
Sphere Communications team